The extension measure is part of a wide-ranging bill of tax policy extensions and federal program renewals. The Senate will likely vote on the larger measure later this week or next, then it heads to the House. We’ll be following developments. Stay tuned.

Update: On Friday, the Senate failed to get enough votes to end debate and pass the larger bill, called the American Jobs and Closing Tax Loopholes Act of 2010. What does this mean for the prospect of the tax-credit deadline extension? The Senate will need to twist a few arms to pass the entire package and send it to the House. There’s no guarantee, of course, that the House will include the tax credit amendment.